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reddit fucking destroyed the plex share community.
(lemmy.world)
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this post was submitted on 19 Jul 2023
405 points (96.1% liked)
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That's the thing, reddit doesn't need to be profitable for the venture capitalists to make their bag. They're trying to cash out at the IPO and have no concern for it after that.
That makes it even dumber though, surely? Lots of people invest in tech businesses that are not profitable and have no plans to become sustainable, some idiots even buy them.
It's things like user count and activity that will be more meaningful in that scenario, so one should avoid doing anything to reduce those figures.
I mean, Reddit was already drowning with repost bots, I'm sure when the time comes they'll have tons of ""users"" generating loads and loads of ""activity"" to impress the investors
The users reddit lost are the whiniest ad blocking power users, I'm included in this group so don't take it as an insult, maybe 3% of total users.
Reddit is still doing fine, long term the writing may be on the wall but the venture capitalist just need it to make it until September.